Imported Petroleum Products Driving Price Increase in Nepal, Alternative Sources Urgently Needed
Petroleum products are materials made from crude oil that can be turned into fuel. A study looked at how Nepal imports these products over time. They used data from Nepal Oil Corporation from 1987 to 2018 and analyzed it using M.S. Excel and SPSS. The study found that Nepal is relying more on imported petroleum products each year, leading to higher prices. They also discovered that as time goes on, the consumption of petrol increases. Overall, the research suggests that Nepal needs to find alternative sources for petroleum products to avoid fuel shortages.